Tron (CRYPTO:TRX) has hit a 30-day high, currently trading at $0.12, marking a nearly 10% increase over the past month.
This surge is driven by increased demand for TRX, as indicated by its Relative Strength Index (RSI) of 66.25, suggesting strong market interest.
However, some investors are taking profits, evidenced by a 4% rise in TRX's exchange inflow volume.
Currently, 181.81 million TRX, valued at $22 million, are held across cryptocurrency exchanges.
Despite the bullish trend, profit-taking activities could exert downward pressure, potentially reducing TRX's price to $0.11 if the trend gains momentum.
If buying pressure persists, TRX could continue to rise, possibly reaching $0.13.